SCEIP Annual Payment Calculator

The SCEIP payment calculator provides applicants the ability to estimate the annual cost of their assessment as it will appear on their property tax bill.  There are 3 user inputs.

Principal

This is the amount of your assessment.  It should not include any anticipated rebates as the SCEIP does not allow rebates to be financed through the program..

Assessment Repayment Term (Years)

The repayment term for assessment amounts of $2,500-$5,000 are 5 or 10 years.

For assessments over $5,000, the available terms are 10 or 20 years.

Assessment Date

The assessment date is determined by the expected completion date of the project.  Funds are disbursed on the first business day of each month for those projects that have been completed and final inspection has been signed off by the appropriate permitting agency.  For larger projects (over $60,000) partial funding is possible and the Assessment Date will be on the first business day of the month in which the initial disbursement request is funded.

The cutoff for funding assessments to appear on the next annual property tax bill will be the first business day in September each year. Assessments that fund after the first business day in September will appear on the following year’s property tax bill. Interest will begin accruing from the date assessments are funded.